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Brian Winterfleld

cashbackforexexnessm the luckiest guy youll ever meet Discussion Topics Trad cashbackforexbrokerg Motivation forex rebate club Trading Goals Success Related Work Belief in Yourself Traders Responsibility Emotional Obsession in the Department Admitting Losses The Market as a Source of Information Winterfleld Securities cashback forex founded in May 1988 Currently, Winterfleld Securities is part of the Cross Brothers Group, and the second largest quoted commercial bank in the UK London There are only three purely British-owned prime brokers left in the region: BZW, Nat forexrebateclubst Securities and Winterfleld Securities. During the interview, Brian Winterfleld would occasionally turn his head and look inside through the glass door of the trading room. He has been in the London financial market for 44 years, and few people have this kind of authoritative experience This chapter is not only about the mind of a trader, but also about the qualities of a successful person Background I entered the London financial market in 1953, first as a stockbroker at Greene Travers, and then as a manager. I then enlisted in the army and was discharged in 1958. The economic situation was quite bad and unless you had a good family background, it was difficult to find opportunities to make money. I started with Bishop & Co. when the London market was reformed, we were the fifth largest firm, but there was a long way between the fifth and the fourth place. You know, the securities industry is made up of three parts, you need a bank, a broker and a market maker, and we were the market making arm of Cantinette West. It was a pretty nasty situation, there was naked greed everywhere, the whole industry was out of whack brokers salaries could skyrocket overnight people didnt understand that in the whole structure The real risk taker was the quotationist and that was the raison dêtre of the quotationist ---- to put money in and take risk obviously in the context of the culture of commercial banking and clearing banks taking risk is a curse I left Cantinette West in 1988 it was not the place I wanted to serve so I left and set up Winterfleld Securities I can tell everyone in the London financial community with great pride Everyone, I am the quoter of last resort we dont have any products here, we dont give any advice, we just provide a first class quoting service for retail transactions or institutional transactions and then charge a fee for the quoting service we are a quoter and the goodwill comes from the first class service we provide and the relationships we maintain with the smaller firms we have a motto, if we let the phone ring more than twice before we answer it, we In fact, I found another motto around Brian Winterfelders desk: we have no strategy, no philosophy, no ideas we are pragmatic opportunists (Michael Francois, Managing Director and Chairman of the Paris Bar Group)  Making a trade is simple: call a broker, sign some account opening documents, and place an order The barriers to entry are low Most people who enter this business think they can make money, occasionally maybe incur some small losses, but always think they can live happily ever after We should clear our heads a little, even the largest investment banks employ only a very small number of institutional traders (who Institutional traders must also undergo years of training before they can operate independently. When they start trading, they must still be under strict supervision ---- at least usually. The expectation of making money does not provide enough motivation to succeed in this business. In order to stay in the business, to keep going in the face of losses, to trade even when you make mistakes, to take on debt even when youre in debt, you need something more than expectations to be truly successful, you have to be passionate about your work and love what you do. If you dont want to work after you get up in the morning, youre in the wrong business. I would never not want to go into the office, or even cancel a holiday, its a magical, wonderful place. From what Ive seen so far, I cant think of another industry that fascinates me so much I like to be in touch with people If I had to choose another industry, it would probably be public relations I would like to market the company So, how can you love your job more? Here are some tips: 1. On all sides of the deal, list the traits you like and focus on them. 2. For example, if you hate studying a companys financial statements, perhaps consider a technical analysis or subscribe to some organized research report that summarizes the companys financial position.  Goal setting is another technique to add interest to your work, and I intend to discuss this in the next chapter. However, please note that these artificial techniques only have a certain effect. This is the ultimate expression of enthusiasm: to be absorbed in the details, to love even the most trivial routines, to enjoy something that no one will notice and that has been forgotten Brian looks up into the distance, a beauty that can only be truly seen by looking away A quote from Arnold reflects the importance of enthusiasm for success: a man who loses everything and retains his enthusiasm is able to work again. He can succeed again even if he loses everything and retains his enthusiasm.

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